Streetbeat News

Labor Issues

SPY

In a Bloomberg interview, Fed's Barkin expressed concerns that the current 'low-hiring, low-firing' employment approach by companies may not last. He warned that firms might resort to layoffs if the economy weakens. Additionally, disinflation is spreading beyond goods, boosting confidence in its continuation.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 2:01 pm

SPY

Richmond Fed's Barkin suggests a 'test and learn' approach to rate cuts, indicating caution in monetary policy adjustments. He warns of potential layoffs if the economy weakens, but notes that disinflation is spreading across the economy.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 2:00 pm

IBM

VIG

VYM

IBM is closing its research division in China, laying off 1,000 employees, and shifting R&D functions to other global offices. This move aligns with other companies reducing exposure to China due to economic and regulatory challenges. IBM's stock has risen over 34% in the past year.

Portfolio Pulse from Anusuya Lahiri

August 26, 2024 | 1:11 pm

NSC

Norfolk Southern has reached tentative five-year agreements with four unions, covering 30% of its union workforce. These agreements promise improvements in pay, healthcare, and vacation, providing employees with certainty ahead of the next bargaining round.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 6:39 am

CSX

CSX has reached tentative five-year labor agreements with seven additional unions, improving wages and benefits for its railroad workers. This move is likely to enhance labor relations and operational stability for the company.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 6:34 am

CNI

CN has agreed to comply with the CIRB's order for binding arbitration, preventing a potential strike and ensuring continued rail operations. The current collective agreement is extended until a new one is signed.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 6:15 am

CP

Canadian Pacific Kansas City (CPKC) is set to restart rail services across Canada following a CIRB mandate to end the lockout and return to work for TCRC employees. This move aims to minimize supply chain disruptions.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 6:10 am

MSFT

Leaked data reveals a significant pay gap at Microsoft, favoring AI engineers, highlighting the company's strategic focus and investment in AI. The average compensation for AI engineers is notably higher than other divisions, reflecting the importance Microsoft places on AI expertise.

Portfolio Pulse from Bibhu Pattnaik

August 24, 2024 | 5:15 pm

META

MSFT

OpenAI has hired former Meta executive Irina Kofman to focus on safety and preparedness amid a series of high-profile departures. The company has also added other key executives, while facing a talent war with tech rivals.

Portfolio Pulse from Ananya Gairola

August 24, 2024 | 7:03 am

CNI

Canadian National Railway (CN) has received a 72-hour strike notice from the Teamsters Canada Rail Conference, with the strike set to begin on August 26. CN has criticized the Teamsters for potentially disrupting the economy, especially after a recent lockout ended and negotiations were conducted in good faith.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 5:31 pm